Forecast update for Gold

Gold price posted gains during its recent intraday trading, supported by the emergence of positive signals from relative strength indicators after forming a positive divergence, attempting to recover part of its previous losses.

However, gold remains stable below the key support level of $4,500, signaling the strength of the negative pressure surrounding the price. Bearish pressure also continues as trading remains below the EMA50, reinforcing the stability and dominance of the short-term corrective bearish trend.